Greece's ongoing debt crisis is coming to a head this week. Germany's biggest banks are proposing that they buy Greek bond debt with a guarantee from Berlin.

In the past, German banks have refused to participate in the plan. They already hold billion of euros of Greek debt. Hypo Real Estate, Eurohypo and Deutsche Postbank are among those unwilling to join. However, if Berlin sweetens the deal with guarantees, they may decide to participate. One bank official told the Financial Times last week: "This could be one of the outcomes, but it would not be a purely private solution -- there has to be government involvement if it were something on the eurozone level. I don't think my bank would say: We would not take part."

The Dow Jones Industrial Average sank below 10,000 Monday, closing at 9,908.39. So what? In market analysis, round numbers like 10,000 often trigger a change in market sentiment.

For example, when the Dow first pushed through 10,000 on the upside in 1999, investors and traders took this as a sign of strength. Conversely, when it crashed through 10,000 on its way down to 6,400, panic gripped Wall Street. Then, in 2009, we had a bounce back through 10,000 on the upside in November. Again, investors and traders saw this as a sign of strength.

Fitch's rating service has cut Russia's local and foreign currency rating to BBB --two ratings above junk. The ruble held steady in trading but is trading near the lower level set by the central bank.

Russia is facing the worst economic crisis in a decade. Thousands of people are being laid off and there is fear of social unrest. Fitch said it was concerned by Russia's weakening sovereign balance which plunged to $210 billion from $386.5 billion just 6 months ago.

First deputy minister Shuvalov said that the country is facing drastic budget cuts but he emphasized the need to support the banks. Shuvalov also said that the state would suspend the release of $50 billion to help firms repay foreign debts.

The government will still support the military complex, the gas monopoly, railway monopoly and power firms.

What is your comment on Russia's BBB rating?